January 2025 Market Update

As we approach the end of January, signs suggest that 2025 may be shaping up to be a busier year than 2024. I’ve received numerous calls from potential sellers, and I have several new listings in the pipeline, set to hit the market in the coming weeks.

Our property inspector noted that activity levels are ahead of 2021’s numbers—a year that was particularly strong for sales. Many agents I’ve spoken with are also reporting increased activity, which supports the idea that more sellers are entering the market.

It seems that those who have been holding off on selling while waiting for interest rates to drop are now adjusting their expectations. The current market consensus is that rates will likely remain elevated for longer than anticipated, as inflation has proven more persistent than predicted. Since the Fed began cutting rates in September of last year, rates have actually risen by more than 1%, currently hovering around 7%.

Despite these higher rates, buyer demand remains strong, and well-priced homes are still selling relatively quickly. I’m optimistic about the year ahead and eager to see how the market evolves.